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Nov 18 - Gold prices rebounded on Monday, having posted losses in the previous six sessions, with gains driven by a pause in the U.S. dollar's rally, while investors await comments from the Federal Reserve officials for clarity on the interest rate trajectory.
Last week, gold prices saw their biggest weekly decline in over three years as expectations of less aggressive interest rate cuts by the Fed boosted the dollar. "We can look to the dollar for a significant part of the current gold price corrections ... I'm not saying you've found a solid physical floor yet, but clearly, some opportunistic buying is coming in to support the market as well," independent analyst Ross Norman said.
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